Is matte paint only emulsion

Emulsion (latex) paint is usually the least expensive matte paint, but it isn't the only kind available. For small projects such as crafts you could use acrylic paint. For walls, you could use emulsion, lime-wash or traditional milk paint. Lime-wash or milk paint would be more expensive, but they give off less toxic fumes and are also used in restoring historic homes because they are more authentic. For a very matte effect, you can also put pigments in the plaster (if you are building plaster walls) instead of painting them. Oil-based paints always have some shine to them, but are preferred for painting woodwork and for outdoor projects because they stand up to harsh weather and to being washed better than emulsion paints.