Concrete block.

We used birch plywood. Works really well for us - can mount shelving anywhere and is way more durable than drywall. Wipes down really easily too.

PVC panels such as Trusscore.

We used Trusscore on our garage walls. Also a farm btw.

Not enough info. Is the garage attached? Are there living spaces above? What is the building code or location?

Type 'X' gypsum board everywhere and 1" plywood over that.

(based upon the information provided)

Garage is attached and ICF. There is a bonus room above the garage. No building codes that matter here at this point. We don’t have any inspections after rough-in electrical. In a rural area not in city limits.

Pegboard is nice for small tools. I would insulate the garage, because you were going to have living space above it at some point probably. You might also think about soundproofing, especially if you would be putting bedrooms where the bonus room is.

Like bpath, I used concrete block, painted white. Looks great.

Fire does not respect zero code enforcement municipal boundaries. Always build to, or above code. Code is just the lowest possible health and safety standards, so that cheapo tract builders don’t build death traps. Surely a custom can do better than the lowest possible quality.

Since you've used ICF's, you'll need to install a thermal barrier covering the foam. I'd do that on all walls in a garage application whether or not local code dictates it. If you want to protect the drywall you might consider installing Hardie fiber-cement panels over the drywall. They will be more tolerant of the unconditioned garage environment than either wood or drywall.

Knowing the walls are ICF's is key information to providing viable recommendations. You can ignore any comment before the point where that information was provided.

As noted above Trusscore or other materials can be installed over the thermal barrier. For instance, we have a block wall between the house and garage.

Leaving exposed foam board on 3 walls is counterintuitive to having something "tough" for the walls (and resistant to pests).

For the U.S., please refer to IRC Table R302.6. You will need 5/8" drywall Type X on the ceiling and 1/2" drywall on the shared wall. You may cover with anything on top of that. Then, refer to IRC Section R316.4 where you must cover the ICF foam board with either 1/2" drywall or 23/32" plywood. These requirements are for life safety regardless if they are enforced.

Drywall is the cheapest and maybe easiest to repair. Plywood is probably the most versatile in a garage. Other materials like FRP, cementious, or steel panel products will not be versatile, but look good. You can also vary where each material is placed based on storage/use, or do just a wainscot.

If you use 1/4" steel plate you can hold things on the walls with magnets.

Simpler, use magnetic primer.

I wonder if it effect pacemakers?