Noise is not an issue for pipe containing condensate water, there is not enough water to generate a lot of noise. (That argument makes sense for an internal roof drain where you get lots of water in a large pipe and the mass of cast-iron helps to dampen the sound.)
The only reason you want insulation on a condensate line or drainpipe receiving condensate is to prevent condensation on the exterior of the pipe.
Where is this pipe located?
What is the dew point of the air the piping is in?
Insulation on the condensate line from the coil itself makes sense, even when using PVC. By the time the condensate has gotten through the air gap at the hub drain it will have gained enough energy/temperature to keep off the condensate curve.
At the end of the day, it is your design, your decision. If you want to be conservative with your design, add the insulation regardless of the material.
Keep in mind though, it is adding a cost to the project.