Is there a Dismplacement Material in UE4

I was wondering if there is a displacement material like Vray ?

Yes. If you enable Tesselation on your material (select the material node and scroll down the details pane til you find it). This’ll unlock the Displacement attributes on the main material node, and you can then plug your displacement map into that.

I’m not 100%, but I believe you need to move your displacement map into object-space for correct results though.