There are some exotic processes that give better performance but the economies of scale aren't there yet and the cost of production is probably always going to be much higher than that of Silicon, which is after all a very abundant element on Earth.

There was a fantastic video about IC manufacturing linked here on HN a while ago, I'm not sure if I'll be able to find it.

edit: Hah, found it :)

https://www.youtube.com/watch?v=NGFhc8R_uO4