Beadboard is one type of inexpensive wall panelling. Tile board, hardboard made of wood composite and plywood paneling are also inexpensive options for paneling walls.
Originally, beadboard consisted of narrow planks installed on a wall with small ridges left in between. Now manufacturers make beadboard paneling in large sheets that are relatively inexpensive to buy and install.
Tile board consists of wooden tiles treated with melamine to make them moisture resistant. Tile board also comes in large sheets.
Hardboard is comprised of fine wood fibers. High levels of heat and pressure compact the fibers into sheets of paneling. Plywood undergoes a similar construction method. However, plywood can mimic hardwoods, such as cherry, walnut or mahogany.