I found this article and I hope it helps you!! I thought this was a great question!!
There are significant differences between frosted, matte, satin, and shimmer eyeshadow. When making a choice between the four types, you should consider the age of your skin. What looks beautiful on women with more mature skin may not be flattering for women with younger skin.
Frosted eyeshadow has an opaque finish with a white or silver sparkle. Pastels are popular frosted eyeshadow colors for women with younger skin, because they brighten the eyes.
If you have fine lines or wrinkles, frosted colors may not be right for you; they have a tendency to magnify them. Shimmer, matte, or satin eyeshadow are your better alternatives.
For creating a natural look, consider using mid-tone matte shades. Matte eyeshadows have a higher concentration of color and are an excellent choice for shaping and defining the eyes. Matte eyeshadows are more suited for mature skin.
If you prefer an eyeshadow that has a little more sparkle than a matte, but less sparkle than a shimmer, then choose satin eyeshadow. Satin eyeshadow can be used on both youthful and more mature skin.
For sheer coverage, with a hint of sparkle, shimmer eyeshadow is the answer. Many glamorous colors are available and can be worn by women of all ages. Light shimmery colors are often used to highlight the eye area.
If fine lines and wrinkles are a concern, shimmery eyeshadow will not settle into your fine lines IF it's not over applied.
Also my view
Matte- has no light reflection and is oil free. Great for wedding and prom looks or anything done for professional pictures. Matte foundation is great for oily skin.
I preferr Shimmer in most of all my makeup! IDK why it's just my favorite
I like lipstick with a frosty or shimmer to it!
Glitter- is kinda like shimmer but bigger pieces! Not sure but i think shimmer has more colors in it to reflect off the light but it's very small as where glitter is usually just one color!