Extracting these plentiful elements (and their compounds) to create useful material essentially involves energy (which is also plentiful) and the right processing methods. From a technical point of view there is practically no limit to the volume of material we could extract and make use of, if we so wished, even while minimally disrupting complex and fragile ecosystems. The reserves of raw materials needed to sustain civilisation are simply not going to run out, because the entire is made up of them. However this is no excuse to be unnecessarily wasteful in our consumption. Advanced recycling will reduce the need to extract material from the ground and more efficient design will allow us to .
The point is that any existing material scarcity actually has little to do with the reserves at our disposal.