Distemper is the most economical type with a general life of 3 – 5 years.The major constituents of distemper are chalk, lime, water and colour pigment . Commonly known as cement paint /whitewash .Distemper is a water based paint. Distempers are used for both interior and exterior walls. The usually need two to three coatings.
Emulsion paint are costilier to distemper with a general life of 5-8 years.
The constituents of emulsion paint are.
a.pigment(s) – prime pigments to impart colour and opacity .
b.binder – a polymer, often referred to as resin, forming a matrix to hold the pigment in place.
c.extender – larger pigment particles added to improve adhesion, strengthen the film and save binder.
d.solvent (thinner) – either an organic solvent or water is used to reduce the viscosity of the paint for better application.
e.additives – used to modify the properties of the liquid paint or dry film.
Emulsion are used for interior walls. They usually need one to two coatings.
Nice article. You may want to read more on difference between distemper paint and emulsion paint here.