Austrian company Fipofix believes that it's identified a material better-suited to the high seas, saying that its specially processed volcanic fiber-based composite, more commonly known as basalt fiber, offers a better performance-price ratio than carbon fiber or fiberglass and can be recycled after use. The company is in the process of testing the material in some of the world's most extreme marine conditions.

Though basalt fiber isn't a household term like fiberglass or carbon fiber, it's not a new composite, either. According to a 2006 article published on CompositesWorld.com, basalt fiber was originally patented in the US in 1923. Toward the middle of the 20th century, it was given serious attention for military applications in the US and Soviet Union, but it wasn't until the breakup of the Soviet Union that it started seeing more use in non-military applications. Today, its production and use is concentrated largely in Eastern Europe and China. We don't see it often, but we did see it featured prominently in the interior of last year's Peugeot EXALT concept.