Solvent
Solvent is the component of paint that evaporates and leaves the resin and pigment to form a hard, even paint coat. The two most common solvents are petroleum distillate or water. Petroleum is used in alkyd based paints where water is used in latex based paints.

Pigment
Pigment is the component of paint that stays suspended in the resin and blocks the light thus uniformly providing a cover or "hide" for what is beneath the paint. Titanium Dioxide (Ti02) based pigments are the most expensive but most durable pigments and are used predominantly in top of the line paints by paint manufacturers.

 

Resin
Resin is the synthetic material of paint that remains after the solvent evaporates forming a layer that suspending the pigments. Without pigment, alkyd resin is just varnish. The more resin in a paint the higher the gloss level of the paint and the more durable the paint.

 

Primer
Primer is the first coat of any painting operation that allows the finish coat to adhere properly. Primer is a paint high in pigment and low in resin and thus, is a flat finish.

 
Gloss
A term used to describe the shine, lustre or sheen of a dried film. The ability of a surface to reflect light evenly.

We refer to a localized failure as any localized area of a painted surface that has started to peel or its surface is breaking down or failing.