What I have tried so far is creating a pattern tile in illustrator out of wavy lines and using that image in a luminance material. I tried adjusting the different settings of the material aswell, but it doesnt seem to produce the same result as this image.
This is a screenshot of what I was able to create in Cinema:
So as you can see the path of the lines are not at all as smooth as the reference. The more detailed of an explanation the better!
If you're just trying to apply that image on a disc as a material you can load the image as a texture in the color channel and adjust the texture tag's Length U and V, and the Offset U and V to fill in the disc.
It would seem that you would need to paint an undulating texture onto a UV map in BodyPaint3D in order to get a sphere that could be rotated and viewed from multiple angles and have this image displayed (if it is even possible). I did some experimenting and found that I could create the image below of a sphere which has a black/white gradient with Interpolation set to None, and the Type set to 2D-Diagonal applied to it. As you alluded to, the image only works from a certain angle, which required that I pivot and rotate the sphere and adjust the Angle of the applied gradient. I have included a link to the project file for you to peruse. I hope this is helpful.