aemeijers wrote:

-snip-

I also didn't really want to go to the expense/labor
of studding out the walls.
-snip-
Space will be storage/quasi workshop only, so it
just needs to be safe and legal, not pretty.

Marson suggested a fire-rated foam- but I have to say. . .

Isn't the first thing you're going to do is hang shelves? [especially
in a damp area you want things off the ground]

Wouldn't studs make that job a lot easier? I think studs will
make your life, now and in the future, a lot easier. [and it will
sure look better to the next guy that comes along if you're selling in
the future]

Jim