This paper presents a comprehensive overview of polymers and related (nano)composites produced via anionic ring opening polymerization (AROP) of lactams. It was aimed at surveying and showing the important research and development results achieved in this field mostly over the last two decades. This review covers the chemical background of the AROP of lactams, their homopolymers, copolymers, and in situ produced blends. The composites produced by AROP were grouped into nanocomposites, discontinuous fiber, continuous fiber, textile fabric, and self-reinforced composites. The manufacturing techniques were introduced and the most recent developments highlighted. Based on this state-of-art survey some future trends were deduced and as their “driving forces” novel and improved manufacturing techniques identified.