Process safety management (PSM) is the analytical tool which is used to prevent the unexpected release of toxic, reactive, or flammable liquids and gasses in various processes in industries worldwide. This regulation is promulgated by the U.S. Occupational Safety and Health Administration (OSHA). In this paper, the challenges and necessities are investigated in implementing the PSM process in the battery industries of Bangladesh. This paper shows that implementing the PSM tool in this area would result in a safer work environment and will assure environmental safety as well as increased productivity. The basic problems that occur in the process of storage, manufacturing and handling of highly hazardous chemicals in battery industries are also discussed. A case study was made in Hamko Batteries Company Ltd. Khulna, Bangladesh to observe the effects of implementing process safety management. The observed result showed a significant reduction in the number of accident frequency and increased productivity of the company. The three basic relationship between man, machine and environment are discussed in an industrial situation to ensure safety. The main aim of this paper is to identify the obstacles and challenges that would take place in implementing the PSM method and the requirements of practicing PSM method in the battery industries of Bangladesh.