The first sentence is clear. A more idiomatic phrasing is
None of the definitions corresponds with the meaning of this special word
The second sentence is not so clear. It is the word
fully that is problematic. Do you mean to say that the material will be used completely until there is no more material left? Or do you mean that the material will be used only in the production of jewelry and not in the production of anything else?
a) The material will be completely used up in the production of jewelry.
b) The material will be used only in / for the production of jewelry.