There's a superior product to Richlite available and it's starting to make the rounds in the luthiery community.
The product is Rocklite Ebano (ebony substitute) and Rocklite Sundari (rosewood substitute). The material is made from actual wood fiber and is not made from the finer paper pulp. I've used it on a few instruments and love it.
Here's a quick video from O'Brien Guitars relating his experience with the rosewood (Sundari) variety:
https://youtu.be/0Q3ckhjYV2I