I've found more success clearly stating the increase I need to stay with the company without submitting reasons why I am worth the raise, except maybe saying that you believe your market value has changed.
I feel like if you start talking up specific points, you create things that can be argued back against and shot down while avoiding the main discussion of how much you are prepared to sell your skills for, and whether the company can pay you that much.
If you're prepared to leave and feel your market value matches the increase you're asking for, make it more of a demand than a negotiation. If you do want to keep this position, don't tell them why you deserve a raise, let them tell you why you don't deserve one, and counter their reasons instead of laying your cards down first.
Not a huge thing, but don't underestimate how much it can change the conversation.