There are many other fabrics that may be used, but the heavier the fabric and the tighter the weave the more durable it will be. If making a corset for daily wear look for 100% cotton fabric as it will breathe better, be much more comfortable, and minimize the possibility of rash.
There are other fabrics which are appropriate. Natural fibers are the most desirable, especially for extended periods of wear as they breathe better and are more absorbent. When choosing a fabric you should take into account how well it will hold a crease when pressed, (as it makes sewing easier) and how much it stretches. Fabric with too much stretch won't bear the tension when the corset is laced. Then the fashion fabric may tear, especially if the waist reduction is more dramatic, or the fit of the corset may be changed. Also, if using the traditional construction method, it is important to use the same fabric for the inside lining and fashion fabric backing. Different fabrics "behave" differently, and using different fabrics it can make it more difficult when you need to match up and stitch the layers together later.