The term 'KEY COMPONENT' can be summarized by two crossword solutions: EBONY and IVORY. EBONY is a dark, heavy wood that is often used to make furniture and musical instruments. It is also used in the production of charcoal and gunpowder. IVORY is a hard, white material that is obtained from the tusks and teeth of certain animals, such as elephants and walruses. It is often used to make jewelry, sculptures, and other decorative items. Both EBONY and IVORY are key components in many industries and have been used for centuries.