An example of a transversely isotropic material is the so-called on-axis unidirectional fiber composite lamina where the fibers are circular in cross section. In a unidirectional composite, the plane normal to the fiber direction can be considered as the isotropic plane, at long wavelengths (low frequencies) of excitation. In the figure to the right, the fibers would be aligned with the  axis, which is normal to the plane of isotropy.
In terms of effective properties, geological layers of rocks are often interpreted as being transversely isotropic. Calculating the effective elastic properties of such layers in petrology has been coined Backus upscaling, which is described below.