Is the age of technology a one-time, short period?

peace,
In the last 20 or so years, there have been many technological leaps, with internet in every home, a smartphone for everyone, and so on. In addition to these things, tens of billions of computers, cars, airplanes, ships, various sophisticated weapons, household appliances, industrial devices, etc., etc., etc. are produced every year.
But with all these advances, in the end, everything is based on all kinds of chips and different metals inside the devices.
These things are not like wheat that regenerates, and they cannot be recycled many times.
So if tens of billions of devices are produced every year, at some point the raw materials will simply run out. Right? How long will that take?
And then what?
Will the world return to 1950 and continue like this? And will they actually remember that there was a "technology era" of so-and-so for decades in a one-time way and the world will go back to how it was before?
So they say that maybe they will develop new things that don't exist. But they may not. And it is possible that even if they do, the various raw materials will still run out.