Any pay rise in an appraisal is about the value YOU bring to a company. It is likely to have been agreed in advance of your appraisal, and your manager is unlikely to have room to maneuver.
You can't really compare to newer hires, unless your company has a fixed grade/salary structure (usually public sector).
For all that people say, it is not about negitiation (or holding your company hostage with another offer), the market dominates.
You were probably recruited within the last five years, the credit crunch meant there were many vying for your role and you were likely the best, but the glut of choice for the employer meant they could offer low in salary. Now the market is pretty hot, people getting roles more easily so even mediocre to poor candidates need good deals to secure.
Does this mean the employer should match across the board? Most couldn't do this, and it would mean not taking on new staff, so making your life harder.
The simple truth is you need to have a unique selling point, or take another offer if you want more, being good at you job isn't enough on its own (and hostage taking will get you pushed out as soon as you are no longer vital).