A new class of light or reactive elements and monophase α′-matrix magnesium- and aluminum-based alloys with superior engineering properties, for the latter being based on a homogeneous solute distribution or a corrosion-resistant and metallic shiny surface withstanding aqueous and saline environments and resulting from the control during synthesis of atomic structure over microstructure to net shape of the final product, said α′-matrix being retained upon conversion into a cast or wrought form. The manufacture of the materials relies on the control of deposition temperature and in-vacuum consolidation during vapor deposition, on maximized heat transfer or casting pressure during all-liquid processing and on controlled friction and shock power during solid state alloying using a mechanical milling technique. The alloy synthesis is followed by extrusion, rolling, forging, drawing and superplastic forming for which the conditions of mechanical working, thermal exposure and time to transfer corresponding metastable α′-matrix phases and microstructure into product form depend on thermal stability and transformation behavior at higher temperatures of said light alloy as well as on the defects inherent to a specific alloy synthesis employed. Alloying additions to the resulting α′-monophase matrix include 0.1 to 40 wt. % metalloids or light rare earth or early transition or simple or heavy rare earth metals or a combination thereof. The eventually more complex light alloys are designed to retain the low density and to improve damage tolerance of corresponding base metals and may include an artificial aging upon thermomechanical processing with or without solid solution heat and quench and annealing treatment for a controlled volume fraction and size of solid state precipitates to reinforce alloy film, layer or bulk and resulting surface qualities. Novel processes are employed to spur production and productivity for the new materials.