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Below is a summary of the advantages and disadvantages of latex and oil-based paints. We would typically use latex under most conditions, but maybe your specific need would require an oil-based paint.
|Less shrinkage||Turns brittle with age|
|Can handle lower temperatures||Slower dry than latex|
|More durable in high traffic areas||Colors fade faster|
|Seals stains better||Chalks faster than latex|
|Holds better on steel||Peels on galvanized metal|
|Better adhesion on dirty surfaces||Yellows with age|