there is a difference between reducers and thinners. but we all use thinners as a generic term. Without getting in to the chemical properties of both they both basically do the same thing but differently.if that makes any sense.
Thinners are more specific to nitrocellulose and acrylic lacquers, alkyd oil base and synthetic petroleum based paints. Petroleum based and Acrylic based chemicals do NOT intermix as they are incompatible (much like oil and water). The amount, or mixing ratios of thinners, typically up to 50% for final coating, control the spray amount and pattern through the spray gun. The amount used to thin the paint is directly related to texture, flow and drying times/temperatures. And most often discovered through trial and error, the finish achieved comes from the thinning, air pressure and gun distance performed by the painter.
Reducers act the same as thinners but the similarities end at thinning the paint into spray-able materials. Product branded reducers, normally manufactured to use exclusively for their specific brand line up, not only thin the paint, they are also available to control the paint flow by using temperature controlled chemistry for use in cold, warm and hot weather. They are designed to 'bind' at the molecular level and dilute the paint, hardener (nearly always used) and forcing it to flow, evaporate and cure all at the same rate. Today's reducers are used in base coat, clear coat, polyurethane, urethane, acrylic enamel and several primers and epoxy base/primer/top coatings. Extremely durable and very expensive...but far better with a much longer lifespan then oil based products.
In short just remember to use the correct reducer/thinner the paint manufacture recommends for the product you are using.Hope this helps.