Modular Arts makes a series of decorative, textural wall panels.  Cast from composite mineral powder, each 32″ square panel includes interlocking tongue and groove edges to ensure proper alignment.

Since these are mineral panels, they don’t off-gas: no formaldehyde or VOC’s.  And they are inherently fireproof wall surfaces.

These deeply textured panels take light fantastically, and really pop under close-proximity, continuous grazing light sources.  This is one area where LED fixtures work well: check out Color Kinetics’ “Graze” series, which is easily capable of illuminating an entire standard-height wall.

The downside to these panels: they are fairly heavy, so make sure you have a strong subsurface to mount to.  And each seem has to be spackled, carefully sanded and painted, which is quite labor intensive.

images from Modular Arts