Dispersionsfarbe - water paint, water-carried paint, water-based paint
per both Bucksch, WB Architektur, Hochbau und Baustoffe
and Gelbrich/Reinwaldt, Bauwesen

Ernst/Kucera:
Ernst Deutsch-Englisch : Dispersionsfarbe, Latexfarbe f / latex paint
Kucera: Dictionary of Chemistry German-English : Dispersionsfarbe f (Kunststoffdispersionsfarbe nach DIN 53778, T 1-4) (Anstr) / emulsion paint

A quick look in Google turned up some examples:
TYPE High quality emulsion - water based paint.
USE For exterior and interior decoration such as brick, concrete block, hardboard, asbestos, plywood, concrete wall etc.
www.gtp-kansai.co.id/application/factory-concrete-int(exist...

... Features of Emulsion Paint for outside wall: No odor, no mould,
anti-mould, Resistance of water, alkali, washing and brushing. ...
www.ningbochemical.com/xsqyfle.htm

Berger 303 Gloss Emulsion Paint - is an acrylic water thinnable gloss paint for use inside and outside. Ideal for use as an exterior masonry paint or use in kitchens, bathrooms, carports, and other hard use areas. Also suitable for use on primed iron, steel galvanised surfaces and wood.
www.trinidad.net/berger/decorat.htm

... 4.1, PROMAR 200 INTERIOR & EXTERIOR EMULSION PAINT, Interior and exterior emulsion
paint, that is washable wear and scratch resistant. It provides excellent ...
www.peletico.com/html/page4-1.

New exterior water-based
paint gets over dirt and bonds to surface. ...
detnews.com/homestyl/0006/03/undercon/undercon.htm

What is the difference between oil-based and water-based paint, and what are the advantages of each?

Alkyd, or oil-based paint penetrates wood better than Latex (water-based) Paint and won’t stick when you keep your doors and windows shut for the winter. For the bulk of most jobs, Latex (water-based) paint is the better choice. It dries faster, doesn’t yellow and can be cleaned up with soap and water when you break for the day.
www.martinsenour.com/home_decorating/faqs_contents.asp

That ought to give you some choices. Hope it helps!