Vinyl Paneling vs Gyprock vs Fibre Cement

Hi,

I need to re-line a wall in a downstairs study that has has some old rotten plywood paneling. The timber frame underneath is still very good. Every several years a small amount of flooding (few inches) occurs and I am trying to account for this in this mini-renovation.

What would be the best wall covering to use, seeing as though it is not a bathroom?

I have seen some "vinyl" paneling in new home garages that looks like the old plywood with the grooves and a slight grain to it (but one colour of course). Does anyone know what this is called and who makes it?