One difference between latex and acrylic paint is that latex paint typically uses some type of rubber as the resin for the paint with water as the solvent. Acrylic paint is completely water-based and made from pigment mixed with acrylic resin and emulsion.
Another difference between latex and acrylic paint is that latex paint is typically used for large projects, such as interior painting for houses, while acrylic paint is used for painting pictures and crafts. Latex paint is used on unprimed drywall, unpainted masonry and surfaces previously painted with latex or flat oil-based paints. Acrylic paint is used on canvas, canvas boards, wood panels and paper.