Quoted:
A quick google search for fire rated wallboard showed a thread on thisoldhouse.com talking about fire resistant drywall... it's called type-X. It has a burn resistance of 1 hour instead of 1/2 hour with normal sheetrock. The key reminder Norm said was to remember to use it in the areas where air can move and to seperate areas into firebreaks.
he said the plus is that it dampens sound transmission and isn't too much more than $0.75 per sheet extra over normal sheetrock.
Link for reference.
http://www.thisoldhouse.com/toh/asktoh/question/0,,20153904,00.html
Type-X sheet-rock is not a "non-combusible" for the purposes of doing a wall near a wood-stove. It is a semi-combustible fire-barrier. IMHO, it would be a bad idea to do a wall near a wood-stove in this.
To comply with code you need to find the make/model of wood-stove and follow their installation instructions. Each stove is independently certified by UL for specific installation requirements. It will tell you what R-value of non-combustibles you need underneath the stove, what air-gap around the stove, and what R-value of non-combustibles on the walls around. It also tells you have far your hearth must extend in front of and to each side of the door opening. All of this stuff is laid out in the manual and should be followed for insurance reasons. Anything short of that would be considered a non-compliant or improper installation and your insurance company just found an "out" on paying for your house that burned down.
Durarock and Durarock Nex-gen are both non-combustible for this purpose. I can't recall the R-value per inch of durarock though. I had to use 3 layers under my stove when I installed it. My stove was a "zero-clearance" unit which meant I didn't need to add anything to my walls; it's approved for direct contact with combustibles. Your stove will be different.