I found an interesting tutorial to create Material design floating input labels using CSS3.
I did some testing on Ionic and it works to some extend by making easy modifications on Ionic’s Floating labels directive.
Not sure though why it doesn’t work on codepen but it works on real device/emulator :
1.Highlighted bar is not full width
2. Height of the input field is more.
If some CSS lovers could help to make it better ,we would be able to recreate Material design using CSS3 here.