I see lots of water dispersion paints in shops and they usually come in two flavors - "latex" and "acrylic". The application range and procedure seem the same, they are all relatively safe, don't emit anything toxic while drying, prices are more or less the same.
What's the practical difference and how do I choose?
There actually is no difference between latex and acrylic paints because there is no latex in latex paints. Let me explain. All water based paints today are referred to as "latex", even though there is absolutely no latex rubber in the formula. Latex has become a generic label. The stain, water resistance and covering capabilities are achieved by using acrylic resins or vinyl . Better quality paints have more acrylic resins than vinyl. Paints with a higher percentage of acrylic resin cost more. Vinyl is much cheaper than acrylic and is often used to mix with the acrylic to keep the cost of the paint lower. If you have special needs that may require a superior or better adapted product, the best advise is to go to a professional paint store and discuss your situation with someone that can explain the chemistry and applications of better products.
You almost answered your own question, in terms of practicality. Acrylic paints are more durable, resilient and more expensive paints. They thin with water, clean up with water, just as latex (as in the house paint sold by the gallon at Home Depot or Lowes) but just as mentioned by others, latex paints are mixed down using vinyls, making them more porous and less durable.
Many commercial paints make claims about durability and performance compared to other latex based paints, but will never compare their products to an acrylic or oil based paint. The main difference is the outcome of the different applied paints. Oil has the most durable finish, most resistant, while also being the least flexible; acrylic is next, then latex.
You may have noted differences in prices between the different bases for latex, especially between that of base flat, and high gloss bases. High gloss contains more polymers, more acrylic, and simply put has more "in it" which makes it a high gloss. Adding durability costs money, and it usually reflects the things a company has to put into the paint in order to raise the quality. There are more ways to add "durability" today than simply raising the % of acrylic in the mix.
There are many water based "100% acrylic" "Latex" paints. I use them in the form of exterior porch and floor enamel. I don't really know what 100% acrylic means, except it's more expensive, and, in my experience, higher quality - more durable, lasts longer, sticks better.
