1. A method comprising: acquiring a first set of projection data of an object from a plurality of detector elements; reconstructing the acquired first set of projection data from the plurality of detector elements into a first reconstructed image; performing material characterization of an image volume of the first reconstructed image to reduce a number of materials analyzed in the image volume to two basis materials, wherein performing material characterization of the image volume comprises utilizing a generalized modeling function to estimate a fraction of at least one basis material within each voxel of the image volume; generating a re-mapped image volume for the at least one basis material of the two basis materials; performing forward projection on at least the re-mapped image volume for the at least one basis material to produce a material-based projection; and generating multi-material corrected projections based on the material-based projection and a total projection attenuated by the scanned object, which represents both of the two basis materials.