Paddle Materials

Wood Canoe Paddle
Wooden paddles are the most commonly used paddles.
Pros: warmer in hands, can feel the water movement of the water better, flexes to absorb shock, lighter than aluminum/polyethylene paddles.
Cons: heavier than fibreglass paddles, requires some maintenance (varnish, sanding).

Fibre Composite
Carbon Canoe Paddle
About: materials (fibreglass, carbon and graphite) are generally used for racing because they are considerably lighter than wood and aluminum/plastic paddles.  The higher the carbon ratio is, the lighter the paddle will be. However, this will raise the price of the paddle and it will make the paddle less durable.
Pros: lighter than wood or aluminum paddles, has good flex.
Cons: expensive, less durable than other materials.

Aluminum shaft/polyethylene blade
Aluminum Canoe Paddle
better as a spare, rather than the main paddle.
Pros: inexpensive, durable, practically no maintenance.
Cons: gets very cold, heavier than other materials.