Alkyd is used to create paints that will dry extremely hard and will resist multiple cleanings. Normally, alkyd paints are oil-based, but there are now water based varieties. You can find alkyd paints on doors and trim both inside and outside houses.
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They are both essential the same, solvent based finishes which require paint thinner to dilute or clean up.
An alkyd is a synthetic resin derived from a reaction between alcohol and certain acids, used as a base for many laminates, paints and coatings.
Primer made with alkyd base.
Traditionally, alkyds are found in solvent-based paints that must be reduced with paint thinner or mineral spirits. "Waterborne alkyd" is a generic term to refer to an alkyd resin that can be used in a water-thinnable paint. Because alkyds are not miscible with water, a chemical modification is sometimes used to produce a hybrid alkyd resin - often acrylic/alkyd or urethane/alkyd - that is compatible with water. These hybrids are often categorized generically under the term waterborne alkyds. A pure alkyd can be emulsified in water using appropriate surfactant combinations. This type of surfactant-stabilized alkyd emulsion has been sometimes referred to as an "alkyd latex." Different resin manufacturers use varying terminology to describe waterborne alkyds with the terms alkyd emulsion, alkyd dispersion, and alkyd latex being among the most common.
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I wouldn't recommend it. Some of the chemicals in the alkyd will dissolve the latex and the alkyd won't "stick". It's best to remove the latex using laquer thinner or xylene first.
What they call "oil base paint" is really called "alkyd base paint." So yes, you can do that.