This is a frequent topic here, and everybody has a different answer. Feel free to search around and do some reading. What you plan to do in the building plays a big part in material selection. Some materials are more durable than others. Some require more work to install. Some are water resistant if you'll be washing vehicles or something. Some are more impact resistant than others.
Metal liner panel in bright white will look clean, reflect lots of light, and be pretty resistant to light impacts. It can also be removed or replaced easily, it's fireproof, and you can hang light things just about anywhere. Pretty resistant to moisture too, but I wouldn't want it submerged. The downsides are the panels aren't flat, so pushing a workbench or shelves against it will leave gaps for things to fall through, and some say that it can reflect noises. By the time you factor in finishing work and paint, it's often cheaper per sqft than other materials.
OSB or plywood is easy to find and comes in many thicknesses. It has most of the benefits of metal. It's easy to work with and can be removed if necessary. It's pretty impact resistant. Like metal, you can mount lightweight items just about anywhere. Unlike the metal, it's flat finish allows for shelving and cabinets to be mounted more easily. If you plan on painting, it will be a lot of work, but you can do any color you like so that may be an advantage or disadvantage. It's not resistant to moisture like metal liner panel, and costs can fluctuate quite a bit. Obviously it's not fire proof.
The other common material is drywall. It's usually cheap, and can have a more refined look than the metal or wood panels if you want it to look less like a garage. Finishing it and painting is a lot of work compared to just screwing a panel onto the framing. It's fire resistant but it's not as durable or easy to replace as the wooden or metal panels. It does have a flat surface for mounting things like wood does. It also does a pretty good job of keeping noises from echoing but you don't want it to get wet.
My personal plan is metal on the ceiling to reflect lots of light and be easy to clean, then painted OSB on the walls and eventually FRP board on the bottom 4 ft for easy cleaning and to keep any moisture from splashing onto the OSB.
