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BRDF Type

– Determines the type of BRDF (the shape of the highlight).

GGX – GGX Microfacet highlights/reflections. Specular highlights have a bright center with a longer falloff.
Phong – Phong highlights/reflections. Specular highlights have a bright center with no falloff.
Blinn – Blinn highlights/reflections. Specular highlights have a bright center with a tight falloff.
Ward – Ward highlights/reflections.

Coat Color – Determines the color of the coat layer.

Coat Amount – Specifies the blending weight of the coat layer. A value of 0 does not add a coat layer, while higher values blend the coat gradually.

Coat Glossiness – Controls the sharpness of reflection. A value of 1.0 means perfect glass-like reflection; lower values produce blurry or glossy reflections. If Reflection Use Roughness is enabled, this parameter works as Coat Roughness.

Coat IOR – Specifies the Index of Refraction for the coat layer.

Bump

Coat Bump Lock – When enabled, it prioritizes the base bump map during rendering over the coat bump map. You can use it to temporarily hide the coat bump.

Coat Bump Map – Specifies the bump/normal map used as a coat bump.

Coat Bump Amount – A multiplier for the coat bump effect.

Coat Bump Type – Allows the user to specify whether a bump map or a normal map effect is added.

Bump Map
Normal Map in Tangent Space
Normal Map in Object Space
Normal Map in Screen Space
Normal Map in World Space
From Texture Bump Output
Explicit Normal

Refraction Glossiness – Controls the sharpness of refractions. A value of 1.0 means perfect glass-like refraction; lower values produce blurry or glossy refractions. 

Refraction IOR –  Index of Refraction for the material, which describes the way light bends when crossing the material surface. A value of 1.0 means the light does not change direction. 

Affect Shadows – This parameter causes the material to cast transparent shadows to create a simple caustic effect dependent on the refraction color and the fog color. For accurate caustic calculations, disable this parameter and instead enable Caustics. Simultaneous usage of both Caustics and Affects Shadows can be used for artistic purposes but does not produce a physically correct result.

Refract Thin Walled – When enabled, the Fog Scattering mode is set to SSS. It simulates thin translucent surfaces such as soap bubble, leaves, curtains, etc. The SSS Color defines the backside color, while the SSS Amount controls the translucency effect.

Translucency

Translucency Type – Selects the algorithm for calculating translucency (also called sub-surface scattering). Note that refraction must be enabled for this effect to be visible.

None – When selected, the only available parameters are the Fog Color and Fog Depth. Together with the Refraction Color, they determine the attenuation of light as it passes through the material. In this mode, there is no subsurface scattering.
Volumetric – Works together with the Refraction Color to scatter light inside the object. It is useful for liquids and other highly transparent materials. The Refraction Color and Refraction Glossiness determine, respectively, how much of the object's interior is visible and how rays interact with the object’s surface.
SSS – Works independently of the Refraction Color/Glossiness and is useful for skin, wax, marble and other relatively opaque materials.

None

Fog Color – The attenuation of light as it passes through the material. This option helps simulate the fact that thick objects look less transparent than thin objects. Note that the effect of the fog color depends on the absolute size of the objects and is therefore scene-dependent. 

Depth (cm) – Controls the strength of the fog effect. Higher values reduce the effect of the fog, making the material more transparent. Smaller values increase the fog effect, making the material more opaque.

Volumetric

SSS Amount – Blends between full scattering and pure refraction.

Scatter Color – Controls the scattering. This parameter can be mapped with a texture.

Fog Color – Controls the absorption of the material. This parameter can be mapped with a texture.

Depth (cm) – Controls the strength of the fog effect. Higher values reduce the effect of the fog, making the material more transparent. Smaller values increase the fog effect, making the material more opaque.

SSS

SSS Amount – Blends between the diffuse color of the material and the SSS effect by reducing the diffuse component of the material and replacing it with the sub-surface scattering effect.

SSS Color – Determines the overall surface appearance. A texture node can be connected.

Scatter Radius – Controls how far each of the red/green/components travels inside the volume. A texture node can be connected.

Scale (cm) – Controls the strength of the SSS effect.

Refraction Advanced

Trace Refractions – Enables refractions for the current material.

Max Depth – The number of times a ray can be refracted. Scenes with lots of refractive and reflective surfaces may require higher values to look correct.

Affect Alpha – Allows the user to specify which channels are going to be affected by the transparency of the material.

Color Only – The transparency affects only the RGB channel of the final render.
Color+alpha – This causes the material to transmit the alpha of the refracted objects, instead of displaying an opaque alpha. 
All channels – All channels and render elements are affected by the transparency of the material.

Enable Dispersion –  Enables the calculation of true light wavelength dispersion. 

Aberration – Allows the user to increase or decrease the dispersion effect. Lowering it widens the dispersion and vice versa.

Sheen Glossiness – Controls the sharpness of reflections. A value of 1.0 means that all of the light reaches the diffuse color, and when the value is smaller, the material looks glossier.

Bump Amount – A multiplier for the bump map effect.

Bump Type – Determines how the Bump Map parameter is interpreted.

Bump Map – Applies the map as a bump map.
Normal Map in Tangent Space – Applies the map as a normal map in tangent space.
Normal Map in Object Space – Applies the map as a normal map in object space.
Normal Map in Screen Space – Applies the map as a normal map in screen/camera space.
Normal Map in World Space – Applies the map as a normal map in world space.
From Texture Bump Output – The map is applied as determined by map type itself.
Explicit Normal – Applies the map as an explicit normal.

MATERIAL ID

Material Id Enabled – Enables the use of Material ID.

Material ID – The color used by the Material ID render element. You can also use a shader here.

Multimatte ID – The integer ID of the material to be used by the Multi Matte render element.

ROUND EDGES

Round Edges Enabled – Enables the round edges effect, which uses bump mapping to smooth out the edges of the geometry during render time.

Radius – Specify a radius (in world units) for the Round Edges effect. Since the actual geometry is not being changed and only the normals of the faces are affected, large values may produce undesirable effects.

Consider Same Object Only – When enabled, the rounded corners are produced only along edges that belong to the object, which has the attribute applied. When disabled, rounded corners are also produced along edges formed when the object with the attribute intersects other objects in the scene.

Corners – Choose which edges are considered in the calculation. Possible options are:

Convex and Concave – Considers all edges.
Convex Only – Only applies Round Edges effect to edges with convex angles.
Concave Only – Only applies Round Edges effect to edges with concave angles.

Cutoff – A threshold below which reflections/refractions are not traced. V-Ray tries to estimate the contribution of reflections/refractions to the image, and if it is below this threshold, these effects are not computed. Do not set this to 0.0, as it may cause excessively long render times in some cases.

Double-sided – When enabled, V-Ray calculates separately the shading for the back faces of surfaces with this material. When disabled, the back faces are shaded the same as the front faces.

Fix Dark Edges –  When enabled, fixes dark edges that sometimes appear on objects with glossy materials.

LPE Label – Allows a label to be assigned, which can be used to reference the material node in a Light Path Expression. This is especially useful when working with the Light Select render element to evaluate custom light contribution in the scene.