I don't think it is clear to me what exactly is the physical meaning of the energy-momentum tensor being traceless.
1 Answers
The physical significance of a traceless energy-momentum tensor or $\text{Tr}(T_{ab}) = 0$ means that the addition of the diagonal terms of the matrix is $0$.
Now, the energy momentum tensor carries its identity with:
$T_{00}$ = $\text{energy density}$, and ${T_{\alpha\alpha}}$ = $\text{pressure}$
And the sum of the diagonal terms is $0$. Or,
$$T_{00} + T_{11} + T_{22}+T_{22} = 0$$
as summation, means that internal energy of the system, and internal pressure, do not contribute to the bulk motion of the system, as they cancel out each other's contribution, which indeed is a very significant property of the conformal invariant object, where, if the property $Tr(T_{ab}) = 0$ holds, it holds true for any metric transformation of type
$$g_{ab} \rightarrow \Omega^2g_{ab}$$
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