Check for foreign material. Sometimes tools or other objects can become lodged into the conveyor track. Run the conveyor empty to see if any part is not moving.
Check the bearings. If any bearings are worn or improperly lubricated, they will become loud. Replace faulty bearings, and add lubricant.
Check the chain alignment. The chain will move out of place if the take-ups are not equally adjusted or if the shafts are out of plumb.
Check the chain contact. Often noise comes from chains rubbing against covers and plates. Run the machine without panels then listen for noise reduction.
Check engine bracings. Check the brackets the hold the motor in place. If they are loose, then the motor could be causing excess vibration noise. Tighten the bolts that hold the brackets in place. If the bolts are also loose, use wire or a welder to add solid hold to the brackets.
Change the environment around the machine. If the conveyor is running smoothly but still seems too noisy, the excess noise is probably from reverberation. Industrial-type walls and ceilings are hard so reverberation is ordinary. Reduce the reverberation by moving the conveyor outside (away from walls), lining the walls with thermal insulation, or placing acoustic baffles on the ceiling.