The target composition is set by dosing ratios, but the effective chemistry changes with temperature and shear. During aqueous preparation, emulsifier becomes protonated or neutralized depending on pH, which controls droplet charge. In the mill, droplet size distribution forms and emulsifier coverage is established. Post mill handling can introduce air, contamination, or local shear that partially breaks the emulsion, shifting apparent viscosity and stability. Over time in storage, minor coalescence or creaming can change local binder concentration. That is why density, pH, viscosity, and stability are monitored during production and before dispatch.